How your brand can utilise NFTs
29/03/2022
Some of the biggest brands on the planet have incorporated NFTs into their marketing strategies. On the other end of the spectrum, there are also plenty of small businesses who are doing the same, too. And, of course, you also have countless companies in between doing the same.
There are so many different reasons why utilising NFTs can be incredibly advantageous for businesses looking to achieve one or more particular goals. Which is precisely what we’re going to explore in this article!
Don’t need to read anymore but are ready to get cracking in the NFT universe for your business? Speak with the team at Mooning today on 1300 818 435.
N… F… T?
Riiiiiiight, ‘nufty’.
Actually, no. It’s an initialism so it’s pronounced ‘En Eff Tee’. And besides, a nufty is someone who is completely and totally useless in every way imaginable while also being an absolute moron. NFTs couldn’t be any further from that.
Short for Non-Fungible (completely unique) Token, they’re a digital asset that can come in the form of digital artwork, music, an in-game item, meme or essentially any other digital file. They’re bought, sold and traded on NFT marketplaces, and some go for tens of millions of dollars.
If you’re keen to learn more about them, read our article about what they are and how you can buy them.
7 ways you can use NFTs for your business
There aren’t a helluva lot of brands that have fully gotten on board the NFT train just yet, which gives you an incredible opportunity to get in early and stay ahead of the pack. You’ll not only be seen as an innovator in your industry, but also have legitimate opportunities to get your message across to a relatively untapped audience.
But what can you use NFTs for, exactly?
- Pre-launch excitement
Before you release a physical product, you can create a huge amount of excitement around this new product by developing NFTs that can act as tokens for the purchasers to gain early access.
Buyers of your NFTs can receive your product before the hard launch (you could see the NFTs as a ‘soft launch’) and also gain exclusive access to different types of content before the rest of your customers.
A real-world example of a brand doing this is Cult&Rain, who have dropped a collection of NFT sneakers which are able to be redeemed for an identical pair of actual, Italian-made sneakers.
- Increase brand awareness
Image credit: Shutterstock/Sia Footage
When you create an NFT project connected to your brand, provided you support it with a strong marketing campaign you’re going to see your brand awareness increase substantially.
As stated earlier, there’s a good chance that if you get involved with NFTs sooner rather than later you’re going to be one of the (if not the) first brands in your industry to do so. This will give you a leg up from your competitors and set your brand apart from the rest.
- Build an online community
Editorial credit: PixieMe / Shutterstock.com
Whether you have a decent online presence currently or not, the addition of NFTs into your digital strategy can be a great way to further promote this growth.
For example, you might consider an NFT giveaway each month for all of your social media followers. This will attract a lot more people to like and follow you across all of your social channels.
- Drive engagement
Providing your audience with a more personalised experience is essential if you want them to be as engaged with your brand as possible.
By incorporating the upward-trending Web3 technologies including NFTs, you’re able to offer a much more holistic experience. Delivering a consistent and relevant message across every channel means your audience will value your brand more and be more engaged overall.
- Capital funding
You may not have considered this, but if you’re in need of raising some capital an NFT drop might be exactly what you require. In essence, it’s a slightly similar concept to crowdfunding; you reach out to your fans and ask for donations, in return giving them early access, t-shirts and the like.
In the case of NFTs as a source of capital, you would put them up for auction and offer something (digital and/or real-world) in return, while stipulating in the listing exactly where the funding will be used.
- Loyalty program memberships
Editorial credit: Ira Lichi / Shutterstock.com
When a customer makes a purchase, you can issue that customer with an NFT as their proof of purchase. And as the new owner of that NFT, the customer will receive exclusive loyalty promotions and content.
This could be in the form of:
- Member discounts and offers
- Earlybird access to new products being launched
- Competitions
- Freebies such as stickers
- Event access
- Access to private communities on Discord, etc.
Feeling a valued part of the community can be a highly effective way to retain customers, so the use of NFTs for loyalty purposes looks like it’s going to become very necessary.
- Use NFTs as part of your marketing strategy
The most effective marketing strategy is one that has touchpoints across multiple relevant platforms. And with the sea of people from all demographics surging into Web3 and the metaverse, NFTs have become the next essential piece of any killer campaign.
Though, it’s important to understand how they should be implemented. Do it wrong and you’ll be throwing your money into a black hole. Do it right? The sky’s the limit, baby.
Implement NFTs as a marketing strategy with Mooning
When you’re building a quality marketing strategy, it’s vital that you have both the knowledge and experience to understand what the best approach will be.
At Mooning, our team has decades of combined experience helping clients develop top-notch strategies across the full marketing scope.
We’ve successfully built a crypto game community up from 0 to 450,000+ in just 12 months. We’ve executed 3 NFT drops with a combined primary and secondary sales total of USD$30 million. And we’ve got the goods to get the most outrageous results for your brand’s NFT project, too.
Have a chat with the leaders in NFT marketing today by calling us on 1300 818 435. Alternatively, message us online and we’ll get back to you as soon as possible.
